San Antonio Urban Core
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Contact for pricing
1631 N Interstate 35, San Antonio, TX 78208
Income-producing properties in San Antonio's booming urban core.
Property Size13,691 SF
Price / SF$291.80
Days on Market1229
Property Features for 1631 N Interstate 35
General Information
Standard status
Active
Size
13,691 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
R-4
Listing Agency:
EIM Real Estate Advisors LLC
(210) 400-2588
Listed By:
Adrian Gracia · License #TX 0648890
Source:
Crexi
Added: Mar 30, 2023
Changed: Aug 8
Last Checked: Aug 8 at 11:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EIM Real Estate Advisors LLC
Investment Insights
Based on property information with market context.
This portfolio offers a rare opportunity to acquire income-producing properties strategically positioned to capitalize on future price appreciation within San Antonio's urban core. Encompassing over 13,600 square feet, the properties are clustered in an area experiencing significant growth. The portfolio comprises several single-family homes, duplexes, a fourplex, a fully leased commercial building, and a short-term rental property, providing diverse income streams. Situated in San Antonio's booming urban core, the properties are within walking distance of major attractions, including the Riverwalk, the Pearl Brewery, the Grayson entertainment district, and downtown San Antonio. The properties are located adjacent to numerous large-scale mixed-use projects, which are lifestyle-oriented. This location is in high demand due to the hundreds of millions of investment and development dollars pouring into the area. The properties are poised to benefit from continued price appreciation and strong rental demand as San Antonio's urban core continues to grow and attract new residents, investments, and large mixed-use projects. This portfolio offers potential for price growth and development.
Key Highlights
- Portfolio of income‑producing properties in San Antonio's rapidly appreciating urban core.
- Diverse income streams from single‑family homes, duplexes, a fourplex, a commercial building, and a short‑term rental.
- Located within walking distance of major attractions like the Riverwalk, Pearl Brewery, and downtown San Antonio.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$175,587
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,511,740
$3.5M
Cap Rate 7%
$2,508,386
$2.5M
Cap Rate 9%
$1,950,967
$2.0M
Market Conditions
NOI Build-Up for 13,691 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$312.2K $22.80/SF
− Vacancy
−$31.2K −$2.28/SF
EGI
$280.9K $20.52/SF
− OpEx
−$105.4K −$7.70/SF
NOI
$175.6K $12.83/SF
Area
San Antonio, TX
Vacancy
10.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,511,740
Cap Rate 7%
$2,508,386
Cap Rate 9%
$1,950,967
Alternative Uses
Best Use
Mixed Use
$2.51M
$2.19M – $2.93M
NOI $175,587 @ 7.0% cap · market cap 4.40%
Second Best
Multifamily LT 5
$2.25M
$1.97M – $2.63M
NOI $157,585 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$3.49M
$3.06M – $4.07M
NOI $244,464 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 78208, TX
3,874
Population
2,292
Households
1.7
Avg Household Size
35
Median Age
13%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
3,874
Density / Sq Mi
$23,194
Median Household Income
$26,136
Median Earnings
$894
Median Rent
$125,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing properties in San Antonio's booming urban core.
Where is this mixed-use property located?
The property is located at 1631 N Interstate 35 San Antonio, TX.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Portfolio of income‑producing properties in San Antonio's rapidly appreciating urban core.; Diverse income streams from single‑family homes, duplexes, a fourplex, a commercial building, and a short‑term rental.; Located within walking distance of major attractions like the Riverwalk, Pearl Brewery, and downtown San Antonio.
